This year has not been good for the IPO market so far. Barely 5 IPOs have been launched during the last 5 months. However, the trend may change in the coming days, as big names like Tata, Reliance and TVS are lined up for IPOs during the remaining months of the year. Two IPOs are coming from Tata Group.
IPO came 20 years ago
Talking about this year, till now only 6 companies have come in the market with IPO. One of these was the Nexus Select Trust writ issue. In this way, an average of only one IPO comes out every month. Looking at the coming days, the situation is expected to change. The Tata group, one of the country’s largest corporate houses, is coming up with an IPO after a long time. The last IPO of the Tata group came in the year 2004, when TCS was listed in the market. After that now the IPO of Tata Play (Tata Play IPO) is coming, whose size can be Rs 3000 crores.
Draft deposited with SEBI
Apart from this, Tata Technologies IPO is also in the queue. This subsidiary of Tata Motors has submitted draft papers to market regulator SEBI. However, it has not yet been approved. According to the Draft Red Herring Prospects ie DRHP of Tata Technologies, this IPO is going to be a completely offer for sale. In this IPO, existing shareholders like Tata Motors, Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund-I will reduce their stake.
He has a stake in Tata Tech
At present, Tata Motors holds 74.69 per cent stake in this company. Apart from this, Alpha TC Holdings Pvt Ltd holds 7.26 per cent and Tata Capital Growth Fund-1 holds 3.63 per cent. According to DRHP, JM Financial, Citigroup Global Markets India and Bofa Securities India will be the lead managers in this IPO. At the same time, the work of IPO registrar will be with Link Intime India.
Great response in gray market
From now on, this IPO is getting great response in the gray market. According to a Mint report, currently the GMP of Tata Technologies IPO (Tata Technologies IPO GMP) is around Rs 80-82. This is a handsome premium and shows that there is a lot of enthusiasm among investors regarding the Tata Tech IPO.
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